NCZ 0.00% $1.10 new century resources limited

Ann: NCZ Secures Landmark Royalty Deferral Agreement with QLD Gvt, page-46

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    https://www.globenewswire.com/news-release/2019/08/27/1906825/0/en/Teck-Reports-Electrical-Equipment-Failure-at-Trail-Operations.html

    Good news - this is likely to support zinc prices in the short term at least given 20-30k zinc metal supply will be reduced. Extent of the price increase will be dependent on how much excess zinc Chinese smelters produce.
    Bad News - Trail smelter treats a large amount of Red Dog zinc concentrates which will likely need to be sold into the spot market. This is likely to push TCs even further higher. I.e it is unlikely that TCs have peaked.

    Longer term bad news:

    https://www.businesswire.com/news/home/20190826005464/en/American-Zinc-Recycling-LLC-Updates-Rutherford-NC

    155k additional zinc metal into the market from 2020 from EAF dust (by-product of scrap steel smelting) not mined production.
 
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